Just another sign that consumers are realizing the dangers of consuming dairy, not to mention the great number of people that are lactose intolerant. One of the obvious signs that people are getting the message is when you start seeing deep rooted dairy businesses shutting down and or claiming bankruptcy.
Consumers have steadily pulled back on their milk consumption over the years. In 1975, milk sales totaled 53.3 million pounds, but it dropped to about 47.8 million pounds last year. Since 2010, milk consumption has fallen more than 13%.
One example is the 94-year-old company Dean Foods. They have struggled in recent years because Americans are drinking less cows milk. 2019 has been particularly brutal: the company’s sales tumbled 7% in the first half of the year, and profit fell 14%. Dean Foods ( ) stock has lost 80% this year
The company, which produces some of the country’s most recognizable milk and dairy products, including Dairy Pure, Organic Valley and Land O’Lakes milks, has blamed its struggles on the “accelerated decline in the conventional white milk category.”
Related article, by The Plantbase Patriot: The dairy industry continues to take hits. It’s okay to be a sellout.
Dean Foods, founded in 1925, was a Chicago-area institution for decades before a 2001 merger of the Franklin Park-based company with Dallas-based Suiza Foods Corp. The combined company kept the Dean name but its headquarters moved to Dallas.
The company is saddled with debt and has been unable to fund all of its workers’ pensions. So on Tuesday, Dean Foods filed for Chapter 11 bankruptcy protection to keep the business operating, reorganize its debt and help fund the pensions while it looks to sell the company.